MUMBAI: Lenders to the crisis-ridden Amtek Auto Group have decided to conduct a special audit of its books before taking a call on extending further loans to the Delhi-based auto component maker, according to banks.

"A joint lender forum (JLF) meeting was held on Friday and it was decided to get a special audit of the Amtek Auto books," a bank official said.

"Banks are doing something through the JLF," said a senior official with another state-run bank, without offering any more details saying they are still assessing the situation.

The lenders to the troubled company include Dena Bank, Corporation Bank, Bank of Maharasthra, among others.

The lenders are caught in such a quandary that none of them come on record or even reveal names of the trapped banks.

Meanwhile, Amtek Auto counter on Saturday rallied 75 per cent intraday and closed day at Rs 46.70, up 53.62 per cent after the management denied rumours about bankruptcy and assured cooperation with Sebi in its probe into stock rigging charges.

"The promoters have always and will always continue to support the business just like that they have done over the last nearly 30 years," John Flintham, Vice Chairman and Global CEO at Amtek Auto said.

After the difficulty in redeeming the Foreign Currency Convertible Bonds (FCCBs), the problem got compounded after the market watchdog Sebi on Friday ordered a probe into Castex Technologies, an auto parts maker and subsidiary of debt-laden Amtek Group for alleged share price manipulation.

The promoters have always and will always continue to support the business just like that they have done over the last nearly 30 years, John Flintham, Vice Chairman and Global CEO at Amtek Auto said.

Sebi is examining trading details of Castex shares after some of its FCCB holders alleged price manipulation with an aim to push it up to trigger the mandatory conversion. Castex had on Thursday informed the exchanges that it had allotted equity shares to investors following a conversion of its FCCBs.

Lenders have an exposure of around Rs 8,000 crore to Amtek Auto which is a part of Amtek Group, the component manufacturers with global presence, which as a whole has a debt of over Rs 26,000 crore, most of which is not hedged or collateralised. During the last fiscal, the company had a revenue of around Rs 20,000 crore.

The company is in urgent need of an additional Rs 800 crore funding to pay back its bond holders, failing which the company may have to default on forex debt.

The trouble had started when Amtek Auto had last month said that there was some temporary cash flow mismatch in the company.